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FEDERAL. RESERVE BANK OF DALLAS Dallas, Texas, October 24,1941 To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve District: The Secretary of the Treasury has issued the following amendment to General License No. 32: “ GENERAL LICENSE NO. 32, AS AMENDED, UNDER EXECUTIVE ORDER NO. 8389 of April 10, 1940, as amended, and Regulations issued pursuant thereto, relating to transactions in foreign exchange, etc.* General License No. 32 is amended to read as follows: (1) A general license is hereby granted authorizing remittances by any individual through any domestic bank to any individual who is a national of a blocked country and who is within any foreign country, and any domestic bank is authorized to effect such remittances, provided the following terms and conditions are complied with: (a) Such remittances are made only for the necessary living expenses of the payee and his household and do not exceed $100 in any one calendar month to any one household, except that additional sums not exceeding $25 in any one calendar month may be remitted for each member of the payee’s household in addition to the payee, provided that in no case shall a sum in excess of $200 per calendar month be remitted to any one household; (b) Such remittances are not made from a blocked account other than from an account in a banking institution within the United States in the name of, or in which the beneficial interest is held by, the payee or members of his household; (c) If the payee is within any blocked country, the remittance may be effected only: (i) By the payment of the dollar amount of the remittance to a domestic bank for credit to a blocked account in the name of a banking institution within such country; or (ii) By the acquisition of foreign exchange from a person in the United States having a license specifically authorizing the sale of such exchange. (d) If the payee is within any foreign country other than a blocked country the remittance may be effected in the same manner that such remittance would be effected if the payee were not a national of a blocked country. (2) All individuals making such remittances and all domestic banks effecting such remittances shall satisfy themselves that the foregoing terms and conditions are complied with. (3) Domestic banks through which any such remittances originate shall execute promptly section A of Form TFR-132 in triplicate with respect to each such remittance. When so executed, such copies of Form TFR-132 shall be forwarded promptly to the domestic bank ultimately trans mitting abroad (by cable or otherwise) the payment instructions for such remittance and the latter bank shall, upon the receipt thereof, execute section B of such copies of Form TFR-132 and promptly file such executed report in triplicate with the appropriate Federal Reserve bank. If the domestic bank through which any such remittance originates is also the bank ultimately transmitting abroad the payment instructions for such remittance, then such bank shall execute both sections A and B of such report. No report on Form TFR-132 shall be deemed to have been filed in compliance with this general license unless both sections A and B thereof have been duly executed as herein prescribed. (4) As used in this general license the term ‘household’ shall mean: (a) Those individuals sharing a common dwelling as a family; or (b) Any individual not sharing a common dwelling with others as a family. October 23, 1941 E. H. FOLEY, JR. Acting Secretary of the Treasury” *Part 131— Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, and Ex. Order 8832, July 26, 1941; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. Yours very truly, R. R. GILBERT President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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